1. US gas prices are expected to fall over the next couple of years as fuel consumption levels off, indicating that vehicle fuel-economy gains may have positive long-term effect on everyone’s budget.
2. GM nets income of $4.9B in 2012, down from $7.9B in 2011 faults slow European sales.
3. Toyota announced it has reached a $29 million dollar settlement with the Attorneys General of 29 states and one US territory that will resolve their complaints relating to recalls performed by the automaker from 2005-2010, including those related to sticky accelerators and malfunctioning floor mats that may have contributed to cases of unintended acceleration.
4. Chrysler recalling 278,222 trucks and SUVs over bad rear axles – impacted models include Dodge Dakota, Ram 1500, Chrysler Aspen and Dodge Durango.
5. According to Wards Auto, the initial run of 800 Vipers has already sold out with deliveries starting next month.
6. Of $418 billion disbursed through the Troubled Asset Relief Program (TARP) (a program designed, started and implemented under the Bush Administration and continued by the Obama Administration) a report in Automotive News indicates that “about 93 percent” has been paid back, and the latest figures put Treasury’s loss from the program overall at $55.58 billion. That’s a $4.1 billion improvement on the last figure, when the expected red ink added up to $59.68 billion. The auto industry’s portion of that loss is estimated to be $20.3 billion, a 16-percent drop from the earlier estimate of $24.3 billion.
7. Chrysler has issued a recall for 3,660 Viper models from the 2003 and 2004 model years for sudden airbag deployment problems.
8. CNN recreates the NYT Tesla Model S drive with miles to spare. NYT says it stands by its review. Tesla suing. Everyone is taking sides. In the end it’s probably good publicity for Tesla.
9. Given lawsuits over the Toyota, Kia and Hyundai goofs on promised fuel economy, the NHTSA has said it will more closely monitor fuel mileage claims from car makers.
10. How much does it cost to crash 132 cars for a movie? How about $11 million for the new Bruce Willis Die Hard movie.